COMMENT | There are serious questions about whether local telecommunications giant Axiata Group should be selling one of its major home-grown businesses, the tower business, which it had developed so successfully before, especially since that business appears to be doing so well now after some problems mid-stream.

This is a truly homegrown business, which, with carefully acquired assets overseas, was built into a multi-billion-ringgit Asian powerhouse in the towers business. But first, some explanations.

There is a business associated with telecommunications that is worth billions but is little known by outsiders. This comprises ownership of telecommunications towers, those ugly steel trees you see everywhere, which house equipment that transmits telecommunications signals.

Without these towers, it will be nearly impossible to transmit signals within countries affordably - no cheap telecommunications services. It’s a utility-like business where companies rent or buy land and space for the long-term and obtain all permits necessary to build the towers.

They sell the use of the towers to the telecommunications companies long-term to enable connectivity within countries.

Malaysia’s telecommunications holding company, Axiata Group, is now in the...